Blockchain Press Releases
E Fund Management Marks First Anniversary of ETF Connect with Inclusion of Four ETF Products
HONG KONG, July 21, 2023 /PRNewswire/ — E Fund Management (“E Fund” or the Company), the largest fund management company with offices in mainland China and Hong Kong, marks the first anniversary of the ETF Connect program by expanding its participation. With significant presence in the asset management industry, the Company continues to strengthen its role in this program with inclusion of four additional ETF products, namely E Fund SSE 50 ETF, E Fund STAR 50 ETF, E Fund CSI 1000 ETF, and E Fund CSI SEEE Carbon Neutral ETF. The expanded offerings became effective on July 17, 2023.
This landmark program, which facilitates two way capital flows between mainland China and Hong Kong for eligible exchange-traded funds (“ETFs”), has played a pivotal role in deepening the integration of capital markets. Launched in July 2022, the ETF Connect was poised to include ETFs in the Stock Connect, which is often referred to as the mutual market access program. This allows Hong Kong and international investors to trade eligible ETFs listed in mainland China through Hong Kong securities firms, and reciprocally, mainland investors gain access to trade eligible Hong Kong-listed ETFs through local brokerages.
The ETF Connect has grown in both size and scope over the past year. According to Hong Kong Stock Exchanges, a total of 137 ETFs can be traded through the program starting from July 17, 2023. As of July 14, 2023, the total trading volume of Northbound ETFs — ETF investment flows from Hong Kong to the Mainland — amounted to approximately RMB53 billion (US$7.3 billion) since inception, while Southbound ETFs (from the Mainland to Hong Kong) reached a total trading volume of HK$382 billion (US$48.7 billion).
Lin Weibin, Head of Index Investment Department at E Fund Management said, “For overseas investors, the ETF Connect offers a convenient and efficient way to access China’s A-share market. We will work to drive more products to be included in the program, providing international investors with an even broader array of investment opportunities.”
E Fund joined the ETF Connect as early as its commencement in July 2022 and added three more ETFs in January 2023, covering the CSI Dividend, STAR and ChiNext 50, and MSCI China A50 indices. Now, with the latest expansion in July 2023, E Fund currently has 13 products available in the program.
About E Fund Management
Established in 2001, E Fund Management Co., Ltd. (“E Fund”) is a leading comprehensive fund manager in China with close to RMB 3 trillion (USD 414 billion) under management. It offers investment solutions to onshore and offshore clients, helping clients achieve long-term sustainable investment performances. E Fund’s clients include both individuals and institutions, ranging from central banks, sovereign wealth funds, social security funds, pension funds, insurance and reinsurance companies, to corporates and banks. Long-term oriented, it has been focusing on the investment management business since inception and believes in the power of in-depth research and time in investing. It is a pioneer and leading practitioner in responsible investments in China and is widely recognized as one of the most trusted and outstanding Chinese asset managers.
Source: E Fund AuM is preliminary estimation and includes subsidiaries. Data as of Jun 30, 2023. FX rate is sourced from PBoC as at end of June, 2023.
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Binance, a leading cryptocurrency exchange, has announced adjustments to the tick size (the minimum change in the unit price) of specific spot trading pairs. These adjustments are aimed at enhancing market liquidity and improving the overall trading experience for users. The changes are scheduled to be completed by 05:00 (UTC) and 07:00 (UTC) on May 23, 2024.
Traders can find details about the tick sizes of all spot trading pairs on Binance in the platform’s Trading Rules. Importantly, the adjustment will not impact spot trading and related functionalities. API users will also observe changes in the tick size, and they can stay updated with the latest tick size using the GET /api/v3/exchangeInfo endpoint. Additional details and updates can be found in the API Changelog.
Existing spot orders will not be affected by the tick size update. Orders placed before the update will continue to be matched with the original tick size. However, traders are advised to adjust their trading strategies accordingly to avoid any unnecessary impact on their trading activities.
Binance emphasizes the importance of referencing the English version of the announcement for the most accurate and up-to-date information, as there may be discrepancies in translated versions. The exchange remains committed to providing a seamless trading experience and appreciates the support of its users. Users are reminded to exercise caution and make informed decisions when trading on the platform.
Source: blockchain.news
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According to an official announcement released on May 16, 2024, OKX will introduce new USDC trading pairs in the spot trading section between 7:00 am and 8:00 am UTC on May 20, 2024. This addition aims to broaden trading options for OKX users and contribute to the expanding USDC ecosystem.
In light of the risks associated with digital asset trading, OKX has issued a cautionary note to all users. They emphasize that information provided by OKX and third parties is for informational and educational purposes only. OKX does not guarantee the accuracy or completeness of any information and does not provide financial, investment, or other forms of advice.
OKX highlights the speculative nature and high volatility of digital assets, cautioning that they may become illiquid at any time, potentially resulting in the loss of the entire investment. Therefore, OKX advises users to conduct thorough research and assess their risk tolerance before engaging in digital asset trading.
For inquiries regarding the new USDC spot trading pairs or any other concerns, users can contact OKX through their support center or engage with the OKX team on various platforms. OKX’s proactive approach in addressing user inquiries and fostering community interaction underscores its commitment to user satisfaction and the overall growth of the crypto ecosystem.
Source: blockchain.news
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ShibaSwap, the decentralized exchange (DEX) affiliated with the Shiba Inu ecosystem, has announced a significant upgrade by migrating to the Shibarium blockchain. This move is expected to introduce a range of new utilities for users, as stated in a recent press release.
The upgrade includes features such as a revamped dashboard, enhanced user experience, discovery charts for trending tokens, and an improved process for onboarding new tokens onto the DEX.
Lead developer Shytoshi Kusama expressed enthusiasm for the upgrade, highlighting its potential to empower DEFI innovators and facilitate community token interaction on Shibarium. Kusama also invited the community to explore the new swap and encouraged existing Shibarium tokens to transition to the platform seamlessly, while assuring that further updates are in the pipeline.
A portion of transaction fees will be utilized to enhance liquidity pool (LP) value in swap transactions, benefiting users and the yield farming community, according to the press release.
The upgrade rollout will prioritize enhancing discovery and can be expected to include more regular updates and upgrades, as noted by fellow developer and contributor Kaal.
The upgrade aims to minimize gas fees and ensure faster transactions, in addition to supporting various segments of the Shiba Inu Ecosystem, including $SHIB and $LEASH tokens, SHEboshis DN-404 tokens, SHIB The Metaverse, ShibaSwap DEX, and the Shiba Eternity game.
Shibarium’s layer 2 mainnet, launched in August 2023, saw the creation of 21 million wallets and was trialed by millions of users. It introduced a new consensus mechanism called proof-of-participation (PoP), which selects validators based on their holdings of the associated cryptocurrency.
As of the latest data, the price of SHIB stands at $0.0002548, reflecting an almost 7% increase in the last 24 hours, with SHIB being the 11th largest in terms of market cap, according to CoinMarketCap.
Source: cointelegraph.com
The post ShibaSwap rolls out major upgrade, moves to Shibarium appeared first on HIPTHER Alerts.
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